Maine Real Estate License Practice Exam

Transferring real estate in Maine must be done:

1. By a lawyer

2. By written deed

3. To a person at least 18 years old to be binding

4. For monetary compensation

The correct answer is: To a person at least 18 years old to be binding

The correct answer is that transferring real estate in Maine must be done by written deed. A written deed is a legal document that formally conveys ownership of property from one party to another. In Maine, like in most states, a deed is required to evidence the transfer of real property. It must be signed by the grantor and typically needs to be recorded in the appropriate government office to protect the interests of the new owner and provide public notice of the ownership change. While the other options touch on important aspects of property transactions, they do not reflect the foundational requirement for transferring real estate. Transferring property does not necessarily mandate the involvement of a lawyer; individuals can handle real estate transactions themselves. Furthermore, while the age of the transferee may affect legal capacity, the transfer is valid if done via a written deed regardless of the recipient's age. Alongside this, a monetary exchange is common but not a prerequisite for a deed to be valid, as real estate can also be transferred as a gift. Thus, the fundamental requirement for transferring real estate is the execution and delivery of a written deed.